5,251 Prudential Financial, Inc. $PRU Shares Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,054 shares of the financial services provider’s stock after purchasing an additional 5,251 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Prudential Financial were worth $7,140,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Prudential Financial in the second quarter worth approximately $3,507,481,000. State Street Corp grew its holdings in shares of Prudential Financial by 1.2% during the second quarter. State Street Corp now owns 17,164,760 shares of the financial services provider’s stock valued at $1,852,593,000 after buying an additional 209,179 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Prudential Financial by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,758,545 shares of the financial services provider’s stock valued at $367,089,000 after acquiring an additional 166,641 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Prudential Financial by 95.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider’s stock valued at $249,769,000 after acquiring an additional 1,247,371 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Prudential Financial in the 2nd quarter worth approximately $209,055,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

Shares of PRU opened at $122.27 on Friday. The firm has a market cap of $42.18 billion, a PE ratio of 11.13, a P/E/G ratio of 2.12 and a beta of 0.85. The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $117.00 and a two-hundred day simple moving average of $108.91. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $128.78.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.44. The firm had revenue of $14.45 billion for the quarter, compared to analysts’ expectations of $14.66 billion. Prudential Financial had a return on equity of 16.38% and a net margin of 6.75%. During the same period in the prior year, the firm earned $4.26 EPS. On average, equities analysts anticipate that Prudential Financial, Inc. will post 13.51 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Tuesday, August 25th. Prudential Financial’s dividend payout ratio is 50.96%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann Kappler sold 7,652 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the transaction, the executive vice president owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the topic of several analyst reports. BMO Capital Markets upped their price objective on Prudential Financial from $90.00 to $120.00 and gave the company an “underperform” rating in a research report on Friday, August 21st. Wells Fargo & Company reduced their target price on Prudential Financial from $104.00 to $103.00 and set an “underweight” rating for the company in a report on Wednesday, October 28th. Bank of America restated a “neutral” rating on shares of Prudential Financial in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, October 22nd. Finally, Weiss Ratings cut Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial currently has an average rating of “Reduce” and an average target price of $112.40.

Prudential Financial News Summary

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Third-quarter earnings beat estimates by 13.9%, supported by PGIM and U.S. protection. Annuity sales also reached a 13-year high, highlighting strength in a key business. Zacks earnings analysis
• Positive Sentiment: Piper Sandler raised its price target to $133, while keeping a neutral rating. Prudential also expects its Japan units to resume operations on February 1 and is targeting about $3.1 billion in net proceeds from the sale of its Brazil and Mexico businesses. Piper Sandler rating Japan operations and divestiture
• Neutral Sentiment: The planned Japan restart and asset sale could help simplify Prudential’s business, but the proceeds and timing remain forward-looking and do not immediately resolve the earnings impact from the suspension.
• Negative Sentiment: Revenue fell short of estimates, and the Japan suspension weighed on results, including a reported $191 million income impact and a $1.3 billion Japan-related cost. These headwinds may be offsetting the earnings beat. Japan suspension and annuity sales
• Negative Sentiment: Bearish analyst signals may also be weighing on sentiment: Barclays maintained an underweight rating despite lifting its target to $98, and Zacks placed PRU on its Strong Sell list. Barclays rating Zacks Strong Sell list

Prudential Financial Profile

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.